The bill’s proposed bifurcated market for restricted and unrestricted digital assets ignores fungibility as a fundamental characteristic of crypto tokens. By creating categories of restricted and unrestricted assets, the bill disrupts this principle, leading to confusion and market fragmentation. This could impair liquidity, complicate transactions and risk management mechanisms such as derivatives, reduce the overall utility of the crypto tokens and ultimately stifle innovation in a nascent industry.
Related posts
-
Peter Schiff Predicts Further Bitcoin Plunge Ahead of Mt Gox Payouts — Declares BTC in Official Bear Market
Economist and gold advocate Peter Schiff has highlighted bitcoin’s recent decline, declaring the cryptocurrency “back in... -
White House Rehires Adviser Who Helped Develop Biden’s Executive Order on Crypto
The White House has rehired Carole House, who helped... -
Florida lawmaker pitches ‘Bitcoin for Taxes’ bill
A Florida lawmaker has introduced a bill that would greenlight Bitcoin as an approved payment method...